Monday, May 24, Market Recap

Good Evening,

Today, May 20…

The DJIA rose 0.55%
The S&P 500 was up 0.99%
The Nasdaq Composite added 1.40%

Tech led the market today.

General Market Review

Industrials

A bill was passed in the Senate that would allow operations to resume in Alaska. Biden is set to sign this bill. Carnival was up 2.70% and Royal Caribbean Cruises added 3.7%.

Tech

Tesla was up 4.40% after Wells Fargo gave the stock a $590 price target due to higher delivery expectations. Today was the final day of the Epic Games and Apple battle. A ruling whether Apple’s App Store is anti-competitive. Apple added 1.33%.

Energy

Oil prices rose although the Iran nuclear deal is close to finalizing. This deal would cause global crude supply to increase by as much as 2 million barrels a day.

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